Title 28, FINANCIAL INSTITUTIONS

Sec. 1.6. The limitations contained in section 1.5 of this chapter are subject to the exceptions set forth in 12 CFR 32.3. As added by P.L.14-1992, SEC.88. Amended by P.L.73-2016, SEC.20.

Sec. 1.7. (a) Loans and extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper that carries a full recourse endorsement or unconditional guarantee by the person transferring the paper is subject under this section to a maximum lim…

Sec. 1.8. (a) Loans and extensions of credit secured by shipping documents or instruments transferring or securing title covering livestock or giving a lien on livestock when the market value of the livestock securing the obligation is not at any time less than one hundred fiftee…

Sec. 10. (a) Except as otherwise provided, and subject to subsection (b), an officer, director, owner, partner, employee, or attorney of any bank or trust company who stipulates for, receives, or consents or agrees to receive, any fee, commission, gift, or thing of value, from an…

Sec. 11. Except as otherwise provided in this chapter, any bank or trust company which holds obligations of indebtedness in violation of the limitations prescribed in this chapter shall, not later than July 1, 1936, cause the amount of such obligations to conform to the limitatio…

Sec. 12. Loans or extensions of credit to the Student Loan Marketing Association are not subject to any limitation based on capital and surplus. As added by P.L.14-1992, SEC.92.

Sec. 13. The department may apply the provisions of 12 CFR 32 in the application and administration of this chapter. As added by P.L.14-1992, SEC.93.

Sec. 6. Any bank or trust company may extend credit to an officer, a director, or a principal shareholder in accordance with the restrictions and provisions of Regulation O of the Board of Governors of the Federal Reserve System (12 CFR 215). Formerly: Acts 1933, c.40, s.200; Act…

Sec. 7.1. (a) As used in this section, "federally chartered bank" means a bank that was incorporated under 12 U.S.C. 21 et seq. and is doing business in Indiana. (b) As used in this section, "rollover mortgage" means a loan that: (1) is secured by a first mortgage on real estate …

Sec. 8. No bank or trust company shall make any loan or discount on the security of the shares of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss under a debt previously contracted in go…

Sec. 1. As used in this chapter, "acquired bank" means: (1) any nonsurviving bank in a merger or consolidation of banks; or (2) any bank that: (A) sells all or substantially all of its assets; and (B) subsequently dissolves as a result of the transaction. As added by P.L.265-1985…

Sec. 10. As used in this chapter, "company" means any corporation, limited liability company, partnership, joint-stock company, business trust, voting trust, joint venture, association, or similar organization, domestic or foreign. The term may or may not include a bank holding c…

Sec. 12. As used in this chapter, "control" means directly or indirectly: (1) to own, control, or hold, with power to vote, twenty-five percent (25%) or more of the voting shares of a bank or company; (2) to control in any manner the election of a majority of the directors or tru…

Sec. 13. As used in this chapter, "department" refers to the department of financial institutions created under IC 28-11-1-1. As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.24.

Sec. 15. As used in this chapter, "foreign bank" means a bank that has its principal office in a state other than Indiana or in the District of Columbia. As added by P.L.265-1985, SEC.3.

Sec. 16. As used in this chapter, "Indiana affiliate" means, as to a bank controlled by one (1) or more bank holding companies, another Indiana bank controlled by the bank holding company or bank holding companies. As added by P.L.265-1985, SEC.3.

Sec. 17. As used in this chapter, "Indiana bank" means a bank that has its principal office in Indiana. As added by P.L.265-1985, SEC.3.

Sec. 18. As used in this chapter, "state bank" means a bank that has been organized or reorganized under Indiana law. As added by P.L.265-1985, SEC.3.

Sec. 19. (a) Subject to subsections (b) and (c), a state bank is entitled to establish one (1) or more branches de novo and one (1) or more branches by acquisition in any location or locations within Indiana. (b) A state bank is entitled to establish a branch de novo under this s…

Sec. 2. As used in this chapter, "acquiring bank" means the surviving bank in a merger of banks, the new corporation in a consolidation of banks, or the bank that purchases all, or substantially all, of the assets of another bank. As added by P.L.265-1985, SEC.3.

Sec. 20.5. Notwithstanding any other provision of this title, upon receipt of approval by the department and all required federal regulatory approvals, a state bank is entitled to establish a branch through a transaction with a savings association (as defined in Section 3(b) of t…

Sec. 22. (a) A state bank is entitled to open or establish an automated teller machine in any location within Indiana or as permitted by the laws of the state in which the automated teller machine is to be located. (b) An automated teller machine may be owned or operated individu…

Sec. 22.5. (a) A state bank is entitled to establish a temporary facility on the premises of an accredited college or university in Indiana for the purpose of offering limited account services. (b) The services that may be offered at a temporary facility established under this se…

Sec. 22.6. (a) As used in this chapter, "school" means: (1) an elementary school (as defined in IC 20-18-2-4); or (2) a secondary school (as defined in IC 20-18-2-18). The term includes a public school (as defined in IC 20-18-2-15) or a nonpublic school (as defined in IC 20-18-2-…

Sec. 23. A person who fails to comply with this chapter commits a Class A infraction. Any person, company, bank, or bank holding company that may be or has been injured by reason of any conduct that constitutes or will constitute a violation of this chapter by any bank may sue th…

Sec. 24. The department may adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.265-1985, SEC.3.

Sec. 25. This chapter does not affect any federal or state statutory requirements for a bank to make deposited funds available for withdrawal to its customers within designated time periods. As added by P.L.164-1988, SEC.5.

Sec. 26. (a) A bank, trust company, corporate fiduciary, or savings bank organized under the laws of Indiana or the laws of any other state or the United States may establish a trust office to exercise its powers as a fiduciary to conduct business in any location that is approved…

Sec. 3. As used in this chapter, "affiliate" means, as to a bank controlled by one (1) or more bank holding companies, another bank, savings bank, or savings association controlled by the same bank holding company or bank holding companies. As added by P.L.265-1985, SEC.3. Amende…

Sec. 4. As used in this chapter, "automated teller machine" means unmanned electronic or mechanical equipment that performs routine banking transactions for the public. As added by P.L.265-1985, SEC.3.

Sec. 5. As used in this chapter, "bank" has the meaning set forth in IC 28-2-17-3. As added by P.L.265-1985, SEC.3. Amended by P.L.33-1991, SEC.22; P.L.42-1993, SEC.60; P.L.171-1996, SEC.31.

Sec. 6. (a) As used in this chapter, "bank holding company" means any company that has or acquires control over: (1) any bank; or (2) any company that has or acquires control over any bank. (b) For the purposes of this chapter: (1) a company is not a bank holding company by virtu…

Sec. 7. As used in this chapter, "branch" means any office, agency, mobile unit, messenger service, or other place of business at which deposits are received, checks paid, or money lent. However, the term does not include: (1) the principal office of a bank; (2) the principal off…

Sec. 8. As used in this chapter, "branch by acquisition" means a branch acquired by a bank as a result of a merger or consolidation of that bank with another bank or a purchase of all or substantially all of the assets of another bank. As added by P.L.265-1985, SEC.3.

Sec. 9. As used in this chapter, "branch de novo" means a branch established by the opening of a new branch and includes a branch or branches acquired from another bank without acquiring substantially all of the assets of the other bank. As added by P.L.265-1985, SEC.3. Amended b…

Sec. 1. As used in this chapter, "corporation" includes a domestic or foreign predecessor entity of a corporation in a merger or other transaction in which the predecessor's existence ceased upon consummation of the transaction. As added by P.L.14-1992, SEC.163.

Sec. 10. (a) A corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of final disposition of the proceeding if: (1) the director furnishes the corporation a written affirmation of the director's good faith be…

Sec. 11. Unless a corporation's articles of incorporation provide otherwise, a director of the corporation who is a party to a proceeding may apply for indemnification to the court conducting the proceeding or to another court of competent jurisdiction. On receipt of an applicati…

Sec. 12. (a) A corporation may not indemnify a director under section 8 of this chapter unless authorized in the specific case after a determination has been made that indemnification of the director is permissible in the circumstances because the director has met the standard of…

Sec. 13. The following apply unless a corporation's articles of incorporation provide otherwise: (1) An officer of the corporation, whether or not a director, is entitled to mandatory indemnification under section 9 of this chapter and is entitled to apply for court-ordered indem…

Sec. 14. A corporation may purchase and maintain insurance on behalf of an individual: (1) who is or was a director, an officer, an employee, or an agent of the corporation; or (2) who, while a director, an officer, an employee, or an agent of the corporation, is or was serving a…

Sec. 15. (a) The indemnification and advance for expenses provided for or authorized by this chapter does not exclude any other rights to indemnification and advance for expenses that a person may have under: (1) a corporation's articles of incorporation or bylaws; (2) a resoluti…

Sec. 2. As used in this chapter, "director" means an individual who is or was a director of a corporation or an individual who, while a director of a corporation, is or was serving at the corporation's request as a director, an officer, a partner, a trustee, a manager, an employe…

Sec. 3. As used in this chapter, "expenses" include attorney's fees. As added by P.L.14-1992, SEC.163.

Sec. 4. As used in this chapter, "liability" means the obligation to pay a judgment, settlement, penalty, fine, including an excise tax assessed with respect to an employee benefit plan, or reasonable expenses incurred with respect to a proceeding. As added by P.L.14-1992, SEC.16…

Sec. 5. (a) As used in this chapter, "official capacity" means: (1) when used with respect to a director, the office of director in a corporation; and (2) when used with respect to an individual other than a director, as contemplated in section 13 of this chapter, the office in a…